Bitcoin Options Mechanism Reversing at $70K Support; Negative Gamma Position Reaches $1.8B

BTC4.30%
According to 10x Research, the options market mechanism that had pushed Bitcoin below the $70,000 support level is now reversing. The largest negative Gamma position in Bitcoin's options market currently stands at approximately $1.8 billion near the current spot price. Previously, this mechanism amplified selling pressure when market makers hedging short Gamma positions were forced to sell during the decline, which turned normal pullbacks into cascading liquidations and sent Bitcoin to a low of $65,705. If price volatility continues, such hedging behavior could now amplify upside moves instead.
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